The US treasury announced their quarterly refunding of $110 billion to raise about $55.2 billion of cash, refined $54.8 billion in maturing securities
Treasury to sell next week:
- $50 billion of three year notes
- $37 billion of 10 year notes
- $23 billion of 30 year bonds
The treasury says it expects to cut 2,3 and 5 year note auctions each by about $2 billion per month over the next three months
It also announced that it would be cutting the seven year note auctions by $3 billion per month over the next three months, and the 10 and 30 year bond auctions by $2 billion and the 20 year bond auction by $4 billion.
Treasury says it will increase April 5 year tips auction by $1 billion to $20 billion.
Every little bit helps as the Fed also ponders the $9 trillion balance sheet reduction in 2022 and how much less buying by the Fed that will total.
